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My Thoughts On YES Bank


wealthymattersPersonally I dislike being compelled to deal with murky businesses, taking on unknown and unknowable risks with my finances and gambling with the lives and well-being of myself and dependents, simply because those in the government think that we can all be compelled to be more honest by dealing via banks and serve the country’s development needs best by investing in financial products. Now as I’m hardly the type to keep my discontent and opinions to myself, I’ve also been one of those howling for a thorough overhaul of our banking and financial system on a pretty routine basis. However, I also believe that when the system delivers, we need to appreciate the breakthrough made. There is much around us to criticize, but let’s not allow our negativity to undervalue the good in what we have at hand. So let’s take a step back and evaluate things a bit. Read more of this post

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How To Use A Short-Term Personal Loan To Improve Your Credit Score ?


personal loan to build credit scoreA credit score is a 3-digit number generated by credit information agencies such as CIBIL, CRIF ,Experian,Equifax etc ,based on which banks and NBFCs (Non Banking Financial Corporations, such as loan and insurance companies, co-operative banks, stock broking firms, etc.) evaluate a person’s creditworthiness ie their capacity and willingness to repay loans extended to them on time. Based on this assessment companies accept or reject loan applications.

The different credit score ranges and their grades are as follows –

credit score ranges Read more of this post

Effect Of Long Term Capital Gains Tax On Equity Investments


Effect Of Long Term Capital gains tax On Equity Investments

SEBI Classification Of Mutual Funds


SEBI Classification Of Mutual Funds

 

 

 

 

 

 

 

 

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The Life Savers Called Online FDs


wealthymattersThe one good think about fixed deposits is the absolute predictability of returns, as long as they are not closed prematurely. Add to this that unlike a lot of other fixed income instruments, fixed deposits are available for all tenures upto 10 years, and you can now use fixed deposits to design your own financial products.

The only drawback is the extremely low deposit insurance  in India.The Deposit Insurance and Credit Guarantee Corporation provides insurance to each customer of a Scheduled Bank for deposits up to Rs 1 lakh in case of  bank failure. This limit is applicable across all the deposits, including savings, current, fixed and recurring. This limit remains Rs 1 lakh even if the sum of all deposits (including accrued interest) exceeds the same. Worse, non-scheduled banks ,companies and other institutions offering fixed deposits don’t provide this small comfort either. Of of what use is predictability of returns if basic security and return of capital is not guaranteed ? Read more of this post

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